Verizon posted strong Q3 results on Thursday, with increasing smartphone adoption. During the third quarter Verizon released their new family data share plans, making it cheaper for customers to add multiple smartphones as well as other internet connected devices, such as tablets and broadband cards. This new plan was met with great success as Verizon was able to add 1.5 million postpaid connections on expectations of only 900,000. Verizon also grew operating income by 18%, in part due to an increase in wireless margins due to slightly lower iPhone sales. IPhone sales were lower in the quarter due to the release of the iPhone 5 very late in the quarter; sales of iPhones were low in anticipation of the new one coming out. Although there were only a couple weeks left when the iPhone 5 released, sales were still strong even though supply was tight, also sales of the iPhone 4 and 4S were strong after the price drop. With stronger sales coming from the android smartphone market as well, smartphones accounted for 53% of all postpaid subscribers, up from 50% last quarter. This bodes well for Verizon because as they increase the amount of smartphones they sell, they are able to charge more for the monthly fees associated with smartphones. Verizon also benefited from charging a $36 activation fee on all upgrades, which was instituted shortly before the third quarter. Verizon also continued to grow their 4G LTE data network and remains the market leader, servicing over 400 markets, almost 5 times as many as competitor AT&T. Verizon had EPS of 64 cents which fell in line with consensus, but earnings had a great market reception due to the increased smartphone adoption which offers promising growth. Verizon continues to outperform competitors and retain market share as the number one wireless carrier in the United States, this puts them in prime position to continue to benefit from the smartphone revolution, as well as the tablet revolution.